Summary
Southern Company (SO) filed an 8-K on April 30, 2020, to report its first-quarter 2020 financial results. The filing primarily consists of a press release and related financial exhibits detailing earnings and operational performance for the three months ended March 31, 2020. Investors should note that the company is providing both GAAP and non-GAAP financial measures, with the latter excluding certain items such as acquisition/disposition impacts, charges related to plants under construction, and earnings from its Wholesale Gas Services business. The company emphasizes that these non-GAAP measures are provided to offer investors a clearer view of the performance of its ongoing business operations and are used by management for evaluation. The exhibits include detailed segment information for its various utility operations, including Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas, along with data on kilowatt-hour sales and customer counts. This provides a comprehensive look at the financial health and operational metrics of the utility giant during the period.
Key Highlights
- 1Southern Company reported its Q1 2020 financial results via an 8-K filing on April 30, 2020.
- 2The company provided both GAAP and non-GAAP earnings per share (EPS) figures for the three months ended March 31, 2020.
- 3Non-GAAP EPS excludes acquisition/disposition impacts, charges related to plants under construction, and earnings from Wholesale Gas Services.
- 4Southern Company believes non-GAAP measures offer a better view of ongoing business performance.
- 5Exhibits include detailed segment information for key utility subsidiaries: Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas.
- 6The filing also provides data on kilowatt-hour sales and customer metrics.
- 7The information is furnished and not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934.